While several businesses and sectors are on a recovery path as economies reopen and business activities pick up the pace, there are many other organizations that are slipping deeper into the COVID-19 crisis. These mainly include companies that are into the travel and hospitality business. As the sectors continue to struggle, firms are forced to announce massive layoffs and other measures of cutting costs. Here are the firms that announced such measures recently (inputs from Reuters):

Pramod Mittal has officially become Britain's biggest bankrupt.

Between April 7 and July 31 this year, billionaires across every industry covered by the study saw their wealth rise by double digits, with billionaires in the technology, healthcare and industrial sectors leading the pack with 36 percent-44 percent gains.

By the end of 2021, based on lessons learned, 80 percent of enterprises would put a mechanism in place to shift to cloud-centric infrastructure and applications twice as fast as before the pandemic, IDC predicted.